The bullish price pattern shown puts the gratuitous nuttiness of the last two days in a mellower perspective. Although its 1162.50 target falls shy of another we’ve been using at 1186.50 that comes from a pattern of larger degree, it can serve for now as a minimum upside objective. Night owls may have their best opportunity to get long once p2=1147.80 has been exceeded by at least four points. A pullback thereafter to p can be bought with an 1142.80 stop-loss, provided you are familiar with the proprietary rules of the ‘mechanical’ trade.
